Sinking Fund [2932]

An apartment owner will need a new roof at the end of the 4th year and a second roof 20 years later.  The estimated cost is $200,000.  How much will the appraiser charge to the sinking fund in each year of a 10-year discounted cash flow analysis?  Assume 8% interest.

The property owner will have to save $44,384 for the first four years and $4,370 for the next 20 years which includes the last six years of the appraiser's analysis.